1. Field of the Invention
This invention relates generally to a system and method for promoting intellectual property, and more particularly to an online system and method for advertising intellectual property available for license or sale and obtaining feedback.
2. Description of the Related Art
Individual inventors lack know-how when attempting to promote, license, or market their inventions, whether or not patent protection has been granted. In many instances, the inventor may not be aware of particular companies that may be interested in new products or technology in the inventor's field of endeavor. Likewise, many companies may not be aware of inventions that are currently available for license or sale. Although many companies have invention submission procedures for considering ideas developed elsewhere, it is often difficult for the inventor to locate those companies. Even when appropriate companies are found, the inventor may not be properly skilled or have the necessary tools to present the invention in an attractive manner to the potential licensee or buyer. In addition, most inventors lack the expertise or cannot afford the costs associated with conducting marketing research to demonstrate that the invention is a desirable product.
In an effort to match industry with patented technology and other intellectual property, websites advertising available patents and other intellectual property for license or sale have recently appeared. One such website is known as PatentAuction.com™, wherein an intellectual property owner can display his or her invention, trademark, or copyrighted material for a fee and commission upon license or sale. This website currently offers a menu with predefined search items that can be selected by a browser, as well as a key word search for the desired property. Before making a bid on a desired item, a prospective buyer must first register and receive a bidder ID and password.
Another website for marketing inventions is known as IPMarketPlace™ at www.ipmarketplace.com. This website also displays intellectual property for sale or license. A menu is offered for finding available intellectual property and includes the following predefined categories: internet applications, entertainment, software/electronics, electrical/mechanical, and chemical/mechanical.
Although these websites may attempt to present available intellectual property to buyers or licensees, they do not provide information in a user-friendly manner. The intellectual property is not “packaged” and presented in its best light. There is no methodology for locating inventions by well known industry codes. Very little information is given about the market applications of the product and there is no information regarding market research or consumer feedback.